THE EFFECT OF GOOD CORPORATE GOVERNANCE AND COMPANY’S CHARACTERISTICS TO FIRM’S VALUE OF LISTED BANKING AT INDONESIAN STOCK EXCHANGE

The achievement of value of the firm may effect positive impact, both internal and external’s company. The purposes of this research is to analyze the effect of good corporate
governance (managerial ownership, independent commissioner, and audit committee), and company’s characteristics (size and return on equity) to Tobin’s Q as firm value measurement.
The sample which is used in this research banking companies listed at Indonesian Stock Exchange on period of 2008-2010. This research is using purposive sampling method to determine the sample and resulted 20 companies as research sample. Multiple regression model and statistic descriptive is used to analysis data. The result indicates that first, good corporate governance does not effect firm’s value. (1)Managerial ownership has negatively effects firm’s value, (2) independent commissioner has negatively effects fimr’s value, (3) Audit committee has negatively effects firm’s value. Secondly, company’s characteristic has positively effects firm’s value, 1) Size has positively effects fimr’s
value, (2) Return on equity has positively effects firm’s value.